Pro Forma January - December 2025 * (SEK 000s)
- Consolidated net sales: 441,300
- Adjusted EBITDA: 11,473
- Adjusted EBITDA-margin: 3%
* The pro forma figures for January - December 2025 includes the performance of the acquisitions made to date.
Numbers are presented without any impact of synergies or integration effects.
The EBITDA is adjusted for non-recurring expenses primarily related to the divestment of the ERP-division in 2024.
The numbers above have not been audited and are presented to give an indicative performance of the group.
Link to CEO-presentation: Done.ai Presentation
CEO Comment
Dear Shareholders,
2025 was a year of forming Done.ai Group. We entered it with the conviction that the next generation of business tools will be defined by intelligent platforms that unify operations, data, and financial services into one coherent experience, so that ambitious SMEs can turn complexity into clarity and focus on what actually drives growth. We are leaving the year with the foundation of exactly that, and with the scale, team, and product architecture to execute on it.
SMEs have long been held back by fragmented software stacks. The tools exist, but the gaps between them create manual work, errors, and blind spots in cash flow and operations. Done.ai is built to close those gaps, replacing disconnected solutions with an integrated engine that connects every touchpoint, from first customer contact to back-end accounting and cash management, in a single coherent workflow.
Through seventeen acquisitions, we have assembled an ecosystem that spans CRM, marketing, sales, operations, accounting, and embedded financial services. But acquisitions alone do not build a platform. Alongside this, we have invested heavily in product development and the technical foundation that makes these capabilities work as one, investments that will start coming to market through product launches in 2026. The Done.ai Platform and the integrations that connects our business units are the result of that sustained effort. Done.ai now serves more than 15,000 business customers directly, and through our exclusive fintech distribution agreement with Finago, we have a long-term channel into an additional 30,000 customers and one of the largest ERP customer bases in the Nordics.
Financial performance
When we started 2025 with SEK 33 million in revenues, I said we would build fast and with discipline. Reaching SEK 441 million in pro forma revenues by year end, nearly 14x growth in a single year, is a result that reflects exactly that. This growth has been primarily driven by our acquisition strategy, which has rapidly scaled our customer base, distribution, and product capabilities. The organic foundation within the group is also growing, and as integration progresses, we expect cross-sell and platform synergies to become an increasingly significant driver of revenue going forward. Excluding one-time and restructuring costs connected to the ERP divestment, the group delivered on a pro forma basis adjusted EBITDA of SEK 11 million for the full year. The 4th quarter pro forma came in at SEK 103 million revenues with an EBITDA of SEK -8 million. This is where I want to be clear: that number reflects deliberate investment in platform development and integration, alongside seasonal impact towards year end, and it comes before any meaningful revenue or cost synergies have started to flow. As integration deepens through 2026, I am confident this will translate into stronger margins through shared infrastructure, cross-sell, and AI-enabled automation.
AI as the compounding Layer
AI is not a feature in Done.ai. It is the intelligence layer that sits across the entire platform. We are building the Done.ai Platform to connect operational, financial, and customer data into a unified structure that enables automation, smarter decision-making, and AI-powered applications at scale.
Much of this work is foundational. Integrating systems, structuring data models, and consolidating siloed information into a shared architecture. Every invoice processed, transaction recorded, support case resolved, and marketing interaction captured strengthens this foundation. Over time, this creates a compounding effect improving automation, accelerating product development, increasing customer value, and deepening our competitive moat. This is the foundation we have been building throughout 2025, and it is what will make the next phase possible.
From building to executing
2025 was about building the base. Scale, capabilities, team, and the first version of a unified platform strategy. 2026 is about making that base work as one. Our capital allocation strategy is built to support exactly that. We invest in platform and product execution and funding that investment through the group's own cash generation, and use the balance sheet selectively for acquisitions that strengthen the ecosystem and accelerate distribution. We remain active in evaluating new targets and will continue to move with conviction when the right deals appear.
Key focus areas for 2026
Our near-term roadmap is clear and execution-focused. The following key priorities define how we will grow the business in 2026:
The launch of the Done Platform is our most exciting delivery in 2026. This is the unified operating system that will bring together our products under a single identity, a shared data layer, and a common workflow engine. It is what transforms Done.ai from a portfolio of complementary tools into a genuinely integrated platform and what unlocks the cross-sell and upsell opportunities that the 45,000 customers in our network make possible.
Embedded Financial Services is another layer of value we bring directly into the Done experience. Our Buy Now, Pay Later capability, combined with Card and Spend Management, allows customers to finance operations, control expenditure, and manage payments entirely within their existing workflows. Distributed through our ERP partners, this creates a seamless financial layer that requires no separate onboarding and generates recurring, high-margin revenue for the group.
The Done AI Lab will serve as the accelerator for everything on this roadmap. By centralising AI and data capability, we move faster across the entire product portfolio, increase automation for customers, and leverage our growing data advantage in ways that individual product teams could not achieve independently. The Lab is not intended to be a research function; it is a delivery engine.
Cross-sell and up-sell excellence is where our scale becomes commercially meaningful. Across the group we now serve more than 15,000 business customers directly and another 30,000 through our partner network. The priority in 2026 is to turn that reach into revenue by increasing coordinated cross-sell and upsell capabilities across all business units. Central to this is the development of a bundled Done offering a packaged suite that brings together our software, fintech, and AI capabilities into a single proposition that is easy to sell, easy to buy, and straightforward to expand. This is how we increase customer lifetime value systematically across the entire group.
Recent strategic acquisitions
During the quarter we signed an agreement to acquire Plorea Holding AS, which subsequently closed in January 2026, bringing point-of-sale and payments into the Done.ai ecosystem. This moves us closer to where commerce happens and where the most valuable operational data originates. For the HoReCa segment and other merchant verticals, we can now combine POS and payments with automated accounting, invoicing, and customer engagement in one integrated workflow. POS is a vertical we find particularly compelling and one where we see clear opportunities to deepen our presence through further add-on acquisitions over time.
I am also pleased to announce that we just recently signed an agreement to acquire Vilect AS, adding recruitment to the Done.ai platform. Recruitment is being reshaped by AI and Vilect has built exactly the kind of structured, data-rich hiring platform that connects naturally with the rest of our ecosystem. An exciting addition that deepens our HR vertical and continues to demonstrate the pace at which Done.ai is growing.
We enter 2026 as a meaningfully different business than we were twelve months ago. The foundation is in place. The platform is taking shape. The team has the experience and ambition to execute. Thank you for your continued trust as we build something that we believe can redefine how SMEs across the Nordics run their businesses.
Sincerely,
Staffan Herbst
CEO, Done.ai Group
For further information please contact:
Done.ai Investor Relations
Email: ir@done.ai
Tel: +46 10 490 07 00
Certified Adviser
The Certified Adviser to Done.ai Group AB on Nasdaq First North Growth Market is Partner Fondkommission.
Address: Smålandsgatan 10, 111 46 Stockholm
Telephone: +46 (0)8-598 422 30
Website: partnerfk.com
About Done.ai
Done.ai has entered a new chapter marking its transformation from a traditional ERP vendor into a one-stop shop for modern businesses, offering an integrated suite of AI-powered tools that span the full operational workflow. With a modular, API-first architecture, businesses can manage their entire value chain, from first customer touchpoint to back-end accounting, fully integrated in one automated, end-to-end platform.
Through the integration of embedded financial services such as automated treasury management, payment solutions, spend management, and open banking, Done.ai aims to redefine how businesses manage liquidity and financial operations. These services will initially be launched through an exclusive three-year distribution agreement to 24SevenOffice's extensive customer base, ensuring rapid rollout and adoption.
Combining deep technological expertise, strategic partnerships, and AI-driven automation, Done.ai delivers real-time financial control, operational efficiency, and unmatched scalability, positioning the company as a leading AI-native fintech platform for the business sector.
Done.ai is headquartered in Sweden and listed on Nasdaq First North Growth Market under the ticker DONE.
This information is information that Done.ai Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-02-26 07:30 CET.
